Contract
Exhibit 10.12
In October of 2004, Xxx Energy Operating Corp., a Delaware corporation with an address at 0000 Xxxxxx Xxxx, Xxxxx Xxxxxxx, Xxxxxxxxxxxx 00000 (“Xxx Operating”), entered into an oral month-to-month administrative services agreement with Shaner Solutions Limited Partnership, a Delaware limited partnership with an address at 0000 Xxxxxx Xxxx, Xxxxx Xxxxxxx, Xxxxxxxxxxxx 00000 (“Xxxxxx Solutions”). Shaner Solutions is controlled by Xxxxx X. Xxxxxx, the Chairman and controlling stockholder of Xxx Operating. The parties agreed that Xxxxxx Solutions would provide Xxx Operating with administrative services relating to information technology, human resources, benefit plan administration, payroll and tax planning and preparation. In exchange for these services, Xxx Operating agreed to pay Xxxxxx Solutions a monthly fee of $15,000 and to reimburse it for its reasonable out-of-pocket expenses. On April 10, 2007, Xxx Operating and Xxxxxx Solutions agreed to terminate the administrative services agreement.